Latest New Zealand Property Report- March 2012
The March 2012 New Zealand Property Report published by Realestate.co.nz provides the latest insight into the state of the New Zealand property market as measured by the supply side of the property market.
Excerpt—-“The message coming from the property market is that buyers are out and about and keen to get into the market, whether they are first-time buyers, mid-life stage buyers or even investors. Their eagerness to buy matched to availability of attractive financial support is however not being met with a consistent and sufficient supply of new listings. This scenario continues to drive this sellers’ market, where it is clear those homeowners who are putting their property on the market are expecting to see a higher sale price as flagged by this new record level of asking price in March. The next 3 months will be crucial as property sales traditionally remain strong through the Autumn, and without the ability of the market to be re-supplied with new listings the outcome could be further rises in asking price and sale price or more significantly a stalling of the market as buyers become wary of a market getting out of reach of the majority of buyers.”
